Can I retire at age 64 with 704,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $704,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$58,136$57,618$57,113$56,619$56,138$54,626
2 years$28,780$28,244$27,725$27,221$26,732$25,220
3 years$18,996$18,458$17,940$17,441$16,960$15,494
4 years$14,105$13,568$13,055$12,565$12,096$10,688
5 years$11,171$10,638$10,132$9,651$9,195$7,849
6 years$9,216$8,687$8,188$7,718$7,276$5,993
7 years$7,820$7,295$6,804$6,345$5,917$4,698
8 years$6,773$6,253$5,770$5,323$4,909$3,752
9 years$5,960$5,444$4,970$4,534$4,134$3,039
10 years$5,309$4,799$4,333$3,908$3,522$2,488
11 years$4,777$4,272$3,815$3,401$3,029$2,053
12 years$4,335$3,835$3,385$2,984$2,625$1,706
13 years$3,960$3,465$3,025$2,634$2,289$1,425
14 years$3,639$3,150$2,718$2,338$2,007$1,195
15 years$3,362$2,877$2,454$2,085$1,767$1,006
16 years$3,119$2,640$2,225$1,867$1,562$850
17 years$2,905$2,431$2,024$1,678$1,385$719
18 years$2,715$2,247$1,848$1,512$1,231$610
19 years$2,545$2,082$1,692$1,366$1,097$518
20 years$2,393$1,935$1,553$1,237$980$441
21 years$2,255$1,802$1,428$1,123$877$375
22 years$2,130$1,682$1,316$1,021$786$320
23 years$2,015$1,573$1,215$930$706$273
24 years$1,911$1,474$1,124$848$634$233
25 years$1,815$1,384$1,041$774$571$199
26 years$1,727$1,300$965$708$514$170
27 years$1,645$1,224$897$648$464$146
28 years$1,569$1,153$833$594$418$125
29 years$1,499$1,088$776$545$378$107
30 years$1,433$1,027$722$500$341$91
31 years$1,372$971$673$459$309$78
32 years$1,314$919$628$422$279$67
33 years$1,261$870$587$388$253$57
34 years$1,210$825$548$357$229$49
35 years$1,163$782$513$329$207$42
36 years$1,118$743$479$303$188$36
37 years$1,076$705$449$279$170$31
38 years$1,036$670$420$257$154$27
39 years$998$637$394$237$140$23
40 years$962$606$369$219$127$20
41 years$929$577$346$202$115$17
42 years$896$550$325$186$104$14
43 years$866$524$305$172$95$12
44 years$836$499$286$159$86$11
45 years$809$476$268$146$78$9
46 years$782$454$252$135$71$8
47 years$757$433$237$125$64$7
48 years$733$414$223$116$58$6
49 years$709$395$209$107$53$5
50 years$687$377$197$99$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $704,000, adding $5,101 every year, while hoping to spend $44,399 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 24/46/30 Blend
63$704,000$704,000$704,000$704,000
64$781,070$743,758$732,846$792,389
65$813,499$732,962$710,156$791,717
66$847,747$720,148$685,218$786,945
67$883,954$705,173$657,909$780,915
68$922,271$687,880$628,103$773,554
69$962,863$668,106$595,665$764,784
70$1,005,911$645,679$560,455$754,527
71$1,051,612$620,415$522,328$742,701
72$1,100,182$592,121$481,132$729,223
73$1,151,857$560,592$436,707$714,007
74$1,206,896$525,611$388,886$696,966
75$1,265,582$486,948$337,496$678,010
76$1,328,225$444,362$282,356$657,048
77$1,395,164$397,596$223,275$633,987
78$1,466,772$346,379$160,056$608,734
79$1,543,457$290,426$92,492$581,195
80$1,625,667$229,434$20,368$551,275
81$1,713,892$163,084$0$518,882
82$1,808,673$91,038$0$502,040
83$1,910,600$12,942$0$490,675
84$2,020,323$0$0$478,250
85$2,138,555$0$0$500,996
86$2,266,079$0$0$532,689
87$2,403,758$0$0$567,003
88$2,552,535$0$0$604,186
89$2,713,451$0$0$644,511
90$2,887,647$0$0$688,279
91$3,076,381$0$0$735,819
92$3,281,033$0$0$787,493
93$3,503,121$0$0$843,703
94$3,744,316$0$0$904,886
95$4,006,455$0$0$971,526
96$4,291,559$0$0$1,044,155
97$4,601,852$0$0$1,123,359
98$4,939,780$0$0$1,209,781
99$5,308,036$0$0$1,304,131
100$5,709,582$0$0$1,407,191